McDonalds The Killingworth Centre, Killingworth Newcastle upon Tyne NE12 6YT

McDonalds
The Killingworth Centre, Killingworth
Newcastle upon Tyne
NE12 6YT

Modern Drive-Thru Restaurant Investment

  • Let to McDonald’s Restaurants Limited until 2026 (no breaks)
  • Forms part of the Killingworth Shopping Centre
  • 5.5 miles north-east of Newcastle upon Tyne
  • Nearby occupiers include Morrisons, Thomas Cook, Poundworld and Wilko
  • For the Seller's Legal Pack, please click the Property Documents tab below
  • Lot
    4
  • Auction
    30th March 2017
  • Rent
    £77,175 per Annum Exclusive
  • Status
    Sold Post
  • Price
     
  • Sector
    Restaurant
  • Auction Venue
    The Radisson Blu Portman Hotel
    22 Portman Square
    London W1H 7BG
  • On Behalf of a PLC
Important Update
  • Expand
  • Photos
  • Map

* More information on the term "guide" can be found here

Modern Drive-Thru Restaurant Investment

  • Let to McDonald’s Restaurants Limited until 2026 (no breaks)
  • Forms part of the Killingworth Shopping Centre
  • 5.5 miles north-east of Newcastle upon Tyne
  • Nearby occupiers include Morrisons, Thomas Cook, Poundworld and Wilko
  • For the Seller's Legal Pack, please click the Property Documents tab below
  • Lot 4
  • Auction 30th March 2017
  • Rent
  • Status Sold Post
  • Price  
  • Sector
    Restaurant
  • Auction Venue
    The Radisson Blu Portman Hotel
    22 Portman Square
    London W1H 7BG
  • On Behalf of a PLC

Property Information

Location
Miles
5.5 miles north east of Newcastle City Centre
7 miles east of Newcastle International Airport
Roads
A19, A1058, A194
Rail
Palmersville Metro
Air
Newcastle International Airport
Situation

Killingworth is a popular commuter town some 5 miles from Newcastle City Centre. The Killingworth Shopping Centre is the principal retailing pitch, strategically located in the centre of town close to the A1056 and the A189. The centre comprises 28 retail units with 1,200 car parking spaces on site. The scheme is anchored by Morrisons and houses occupiers including Matalan, Thomas Cook, Poundworld and Wilko. The property occupies a prominent corner position at the entrance to the site off E Bailey Road, adjacent to KFC

Tenure

Virtual Freehold. Held for a term of 999 years less three days from 28/01/2015 at a peppercorn rent.

Location
Miles
5.5 miles north east of Newcastle City Centre
7 miles east of Newcastle International Airport
Roads
A19, A1058, A194
Rail
Palmersville Metro
Air
Newcastle International Airport
Situation

Killingworth is a popular commuter town some 5 miles from Newcastle City Centre. The Killingworth Shopping Centre is the principal retailing pitch, strategically located in the centre of town close to the A1056 and the A189. The centre comprises 28 retail units with 1,200 car parking spaces on site. The scheme is anchored by Morrisons and houses occupiers including Matalan, Thomas Cook, Poundworld and Wilko. The property occupies a prominent corner position at the entrance to the site off E Bailey Road, adjacent to KFC

Tenure

Virtual Freehold. Held for a term of 999 years less three days from 28/01/2015 at a peppercorn rent.

Description

The property comprises a modern purpose built, single storey drive-thru restaurant. The property benefits from shared rights to use the Killingworth Centre car park.

Please note KFC, The Killingworth Centre is being offered as lot 14 in this catalogue.

VAT

VAT is applicable to this lot.

Completion Period

Six Week Completion

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Description

The property comprises a modern purpose built, single storey drive-thru restaurant. The property benefits from shared rights to use the Killingworth Centre car park.

Please note KFC, The Killingworth Centre is being offered as lot 14 in this catalogue.

VAT

VAT is applicable to this lot.

Completion Period

Six Week Completion

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Tenancy & Accommodation

Floor Use Floor Areas (Approx) Tenant Term Rent p.a.x Review
Ground
Restaurant/
Drive Thru
291.90 sq m
(3,142 sq ft)
MCDONALD’S RESTAURANTS
LIMITED (1) (2)

25 years from 01/08/2001
until 31/07/2026 on a full
repairing and insuring lease
£77,175 (3)
01/08/2021
Total
291.90 sq m
(3,142 sq ft)
    £77,175 (3)
 

(1) For the year ending 31st December 2015, McDonald's Restaurants Limited reported a turnover of £1,535,510,000, pre-tax profits of £270,826,000 and a total net worth of £903,374,000 (Source: Experian Group 21/02/2017). McDonald’s is one of the world’s largest restaurant chains with over 1,250 UK restaurants (Source: www.mcdonalds.co.uk 21/02/2017).
(2) The tenant has sublet the property to W. Liddy and Company Limited, a franchisee of McDonald’s. For the year ending 31 December 2015, W. Liddy and Company Limited reported a turnover of £14,630,184, pre-tax profits of £600,608 and a total net worth of £1,732,427 (Source: Experian Group 28/02/2017) .
(3) For the purpose of clarification, the current rent is £75,600. The 2016 rent review has been agreed at £77,175 p.a. and is currently out for signature.

Property Documents

  • Catalogue Page
    Updated Date
    12.11.19
    File Size
    2 MB
    View PDF
  • Site Plan
    Updated Date
    12.11.19
    File Size
    604 KB
    View PDF
  • Common Auction conditions
    Updated Date
    10.06.21
    File Size
    168 KB
    View PDF
  • Memorandum of Sale
    Updated Date
    27.03.17
    File Size
    27 KB
    View PDF

Contacts

Seller's Solicitors
Osborne Clarke Solicitors One London Wall
London
EC2Y 5EB
Andrew McCormack 0207 105 7276andrew.mccormack@osborneclarke.com

Useful Links

Acuitus Finance
Stuart BuchananStuart Buchanan +44 (0)20 7034 4850 +44 (0)7879 432868stuart.buchanan@acuitus.co.uk

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